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Updated about 18 years ago on . Most recent reply
What is a commercial property, in regards to financing?
Hello all, I have been reading here a while now, this is my first post. I am currently trying to buy the property I live in currently. It is a duplex with two mobile home lots also on the lot, I have worked out the issue with the mobile homes so they are not the problem, however the duplex is currently being occupied by me, and a business. the duplex was previously used as 100% residential, and is still outfitted for full residential. is this gonna be considered commercial. I live in an urban area that does not have zoning, and as far as taxes it is considered commercial, but i understand that any investment property (non-Lived in) is considered commercial as far as taxes. What do you all think? sorry for being long winded, I am just trying to head off any potential questions.
Thanks!
-Tim